Be a part of Singapore’s future food hub
Tap the potential of the North Region and the robust food industry at the freehold Food Vision@ Mandai
SOMETHING exciting is brewing in the food and beverage (F&B) industry as more businesses shift away from a traditional storefront, opening cloud kitchens and operating out of food factories.
Rising rents and high overhead costs have pushed some restaurants away from the brick-and-mortar approach as they shift online and pivot to food delivery instead.
As they embrace a new business model, F&B operators need to find dedicated facilities where they can cook, process, package and store food all in one place.
While food factories are highly sought after, they are limited in supply in urban Singapore and freehold ones are even rarer.
Many have 30-year or 60-year tenures with a depleting lease. So when an opportunity comes along to own a unit at the freehold Food Vision that will also help Singapore future-proof its precious food supply, savvy investors won’t want to pass it up..
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The Republic is racing towards its “30 by 30” target of producing enough food to meet 30 per cent of its nutritional needs by 2030.
The push for productivity has begun with the development of the 18 ha Agri-Food Innovation Park (AFIP) in Sungei Kadut, which will catalyse innovation in the agritech ecosystem.
Investors can also expect top agritech players and a strong talent pool to be drawn to the area, with the revitalisation of the North building in momentum. To further bolster food security, Singapore is developing the Northern Agri-Tech and Food Corridor, which will connect the AFIP with the Senoko Food Zone and farms in Lim Chu Kang.
In the future, small and medium enterprises – which are a growing presence in the area – can collaborate and co-create food products to commercialise, by tapping government initiatives such as FoodInnovate.
An investment class to watch
As funds flow into the food sector, investors are warming up to food factories – a niche real estate investment becoming increasingly attractive.
The residential property market, while still elevated, may be showing early signs of slowing as cooling measures kick in. Following the increase in Additional Buyer’s Stamp Duty (ABSD) in April, some investors may have switched over to buying industrial assets which are not subjected to ABSD.
A niche asset class, food factories are a hidden gem that has remained under the radar until now.
The hub for food manufacturing
The freehold Food Vision is under construction but has already secured Fiesta Foods and Amra Catering as its future occupiers.
Located in the well-established industrial zone of Mandai, Food Vision is an investment opportunity to be seized. It will be a stone’s throw away from the fast developing Northern Agri-Tech and Food Corridor and the Sungei Kadut Eco District, a massive manufacturing estate that will be upgraded and modernised.
Food businesses at Food Vision will be able to benefit from the neighbouring suppliers, distributors and business partners and these opportunities for collaboration will enhance operational efficiency.
Existing employees will also have an easier commute, once the future Sungei Kadut MRT interchange opens in the mid-2030s.
Choices for all
Food Vision sits on a plot of land in excess of 6,900 square metres, and the space allows for the development to offer ramp-up access to every level of the building. This essentially allows vehicular access to all units, enabling operational convenience. Loading and unloading can be carried out right at the doorstep of the units, for instance.
Food Vision is a development by Mandai Estate Development, a joint venture between EL Development and Sim Lian – both experienced developers. The company has a design philosophy where the emphasis is on space efficiency and optimisation.
All units are column free, allowing functional layouts that cater to varying operational requirements. The linear layout of units located on every floor allows food business operators to acquire adjoining units (subject to availability at time of purchase) should they require larger floor plates for their operations. Thoughtfully designed for cold room and kitchen operations, all units come with sunken floors and dedicated kitchen exhaust shafts. There are no void spaces within the units.
Food Vision provides an excellent platform to scale up your F&B business. Available units have an average size of 1,700 square feet and are attractively priced from S$2.32 million.
“More investors are buying non-residential assets for long-term investment. Given the sustained growth in Singapore’s food and beverage sector and the government’s push for greater food security, food factories are growing in popularity among investors,” said Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie. She added: “As our food manufacturing and processing industry continues to expand, demand for food factories is likely to stay vibrant.”
Visit the sales gallery at 11 Mandai Estate #12-01 Eldix, Singapore 729908, from 10 am to 5 pm daily.
For enquiries, call 8388 5577 or visit www.foodvision.com.sg
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